SRC-JEC S.B. 1287 77(R)BILL ANALYSIS


Senate Research CenterS.B. 1287
By: Carona
Intergovernmental Relations
6/26/2001
Enrolled


DIGEST AND PURPOSE 

In 1999, the 76th Legislature passed S.B. 1013 to provide increased
flexibility in the types of projects which housing finance corporations may
finance.  S.B. 1287 expands that flexibility to allow housing finance
corporations to issue bonds for any reason associated with providing
affordable housing. 

RULEMAKING AUTHORITY

This bill does not expressly grant any additional rulemaking authority to a
state officer, institution, or agency.  

SECTION BY SECTION ANALYSIS

SECTION 1.  Amends Section 394.003(13), Local Government Code, to redefine
"residential development" to include construction or alteration work on
certain property for the purpose of providing housing facilities that are a
part of any affordable housing project, including any facilities used for
the purpose of delivering tenant services, as defined by Section 2306.254
(Tenant Services Program), Government Code. 

SECTION 2.  Amends Section 394.037(a), Local Government Code, to authorize
a housing finance corporation to issue bonds to defray, in whole or in
part, any costs associated with the provision of decent, safe, and sanitary
housing and nonhousing facilities that are an integral part of or are
functionally related to an affordable housing project. 

SECTION 3.  Effective date: upon passage or September 1, 2001.